Profits halved at Readymix

Readymix saw its profits halved to E11.4 million last year despite an increase in turnover of seven per cent.

Sales grew to E247.5 million from E231.5 million in 2003, but profits slumped from E22.5 million.

The decline in profits was attributed the high cost of raw materials such as cement and aggregates, while labour and energy costs also increased.